MIRA INFORM REPORT

Report No. :	306431
Report Date :	09.02.2015

IDENTIFICATION DETAILS

Name :	GLOW SHOES PRIVATE LIMITED
Registered Office :	N-47, Sector-1, Bawana, New Delhi – 110039
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.11.2008
Com. Reg. No.:	55-184754
Capital Investment / Paid-up Capital :	Rs.0.377 Million
CIN No.: [Company Identification No.]	U19200DL2008PTC184754
TAN No.: [Tax Deduction & Collection Account No.]	DELG13203B
PAN No.: [Permanent Account No.]	AADCG2964R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Shoes.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 42000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions. NOTE: Profit and loss account of the company for the year 2014 is not available.

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Dinesh
Designation :	Accountant
Contact No.:	91-9990379815
Date :	09.02.2015

LOCATIONS

Registered Office :	N-47, Sector-1, Bawana, New Delhi – 110039, India
Tel. No.:	Not Available
	91-9990379815 (Mr. Dinesh)
Fax No.:	Not Available
E-Mail :	milangoyal1@hotmail.com

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Satbhushan Goel
Designation :	Director
Address :	A-3/8, Miyawali Nagar, Paschim Vihar, New Delhi - 110087, India
Date of Birth/Age :	15.02.1973
Date of Appointment :	15.01.2014
DIN No.:	00439209
Name :	Mr. Parveen Goel
Designation :	Director
Address :	A-3/8, Miyawali Nagar, Paschim Vihar, New Delhi - 110087, India
Date of Birth/Age :	16.08.1976
Date of Appointment :	07.11.2008
DIN No.:	02367570
Name :	Mr. Amit Goel
Designation :	Director
Address :	A-3/8, Miyawali Nagar, Paschim Vihar, New Delhi - 110087, India
Date of Birth/Age :	15.03.1985
Date of Appointment :	07.11.2008
DIN No.:	02367571
Name :	Mr. Mamta Devi
Designation :	Director
Address :	25, Pocket A-2, Mianwali Nagar, Paschim Vihar, New Delhi - 110087, India
Date of Appointment :	28.01.2015
DIN No.:	07081778
Name :	Mr. Mukesh Goel
Designation :	Director
Address :	A2/25 Peera Garhi Chowk Mianwali Nagar,, Paschim Vihar West, New Delhi - 110087, India
Date of Appointment :	28.01.2015
DIN No.:	07081810
Name :	Mr. Sharvan Kumar
Designation :	Director
Address :	8 Pocket A-3, Miawali Nagar, Paschim Vihar,, New Delhi - 110087, India
Date of Appointment :	28.01.2015
DIN No.:	07081880

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Parveen Goel	5000
Amit Goel	5000
Dinesh Goel	1800
Renu Goel	1800
Mukesh Goel	1800
Ritu Goel	1800
Satbhushan Goel	1800
Pinki Gupta	1800
Seema Goel	1800
Shelly Singhal	1250
Naveen Kumar	1800
Preeti Gupta	1800
Nirmala Devi	1800
Sharwan Goel and Sons HUF	1800
Satbhushan Goel and Sons HUF	1250
Mukesh Goel and Sons HUF	1800
Parveen Goel and Sons HUF	1800
Dinesh Goel and Sons HUF	1800
Total	37700

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Shoes.
Products :	Shoes
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Shoes Chemical
Countries :	China
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Customers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Banker Name :	Bank of Baroda
Branch :	Mianwali Nagar Branch, New Delhi – 110087, Delhi, India
Person Name (With Designation) :	Not Divulged
Contact Number :	Not Divulged
Name of Account Holder :	Not Divulged
Account Number :	Not Divulged
Account Since (Date/Year of Account Opening) :	Not Divulged
Average Balance Maintained :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Banking Relations :	--
Auditors :
Name :	S P M S and Associates Chartered Accountants
Address :	305, Pearl Business Park, D-7, Netaji Subhash Place, Pitampura, Delhi – 110034, India
Tel. No.:	91-11-47047311 / 312 / 313
Email :	spmsco@gmail.com
PAN No.:	AAEFM6171C
Membership :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
37700	Equity Shares	Rs.10/- each	Rs.0.377 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.377	0.377	0.377
(b) Reserves & Surplus	14.582	14.576	14.529
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	14.959	14.953	14.906
(3) Non-Current Liabilities
(a) long-term borrowings	8.533	7.866	2.854
(b) Deferred tax liabilities (Net)	0.000	0.020	0.083
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	8.533	7.886	2.937
(4) Current Liabilities
(a) Short term borrowings	24.238	12.330	0.000
(b) Trade payables	17.165	26.551	19.746
(c) Other current liabilities	3.915	2.730	4.607
(d) Short-term provisions	0.177	0.096	0.043
Total Current Liabilities (4)	45.495	41.707	24.396
TOTAL	68.987	64.546	42.239
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8.724	8.361	6.690
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.152	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.030	0.000
(e) Other Non-current assets	0.000	0.000	0.008
Total Non-Current Assets	8.876	8.391	6.698
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	16.362	25.682	19.950
(c) Trade receivables	42.393	29.333	12.875
(d) Cash and cash equivalents	1.174	0.821	2.613
(e) Short-term loans and advances	0.182	0.319	0.103
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	60.111	56.155	35.541
TOTAL	68.987	64.546	42.239

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TURNOVER	NA	128.700	74.100
Less	EXPENSES	NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX	NA	0.081	0.174
Less	TAX	NA	0.034	0.050
	PROFIT/(LOSS) AFTER TAX	NA	0.047	0.124
	Earnings Per Share (Rs.)	NA	--	--

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	NA	0.04	0.17
Return on Total Assets (PBT/Total Assets}	(%)	NA	0.13	0.41
Return on Investment (ROI) (PBT/Networth)		NA	0.01	0.01
Debt Equity Ratio (Total Debt /Networth)		2.19	1.35	0.19
Current Ratio (Current Asset/Current Liability)		1.32	1.35	1.46

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	0.377	0.377	0.377
Reserves & Surplus	14.529	14.576	14.582
Net worth	14.906	14.953	14.959
long-term borrowings	2.854	7.866	8.533
Short term borrowings	0.000	12.330	24.238
Total borrowings	2.854	20.196	32.771
Debt/Equity ratio	0.191	1.351	2.191

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10455997	04/09/2013	40,000,000.00	Bank of Baroda	Mianwali Nagar Branch, New Delhi, Delhi - 110087, India	B87935524

FIXED ASSETS:

· Car

· Generator

· Mobiles

· Plant and Machinery

· Scooter

· Trimming Machine

· Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.74
UK Pound	1	Rs.94.65
Euro	1	Rs.70.79

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	DIV
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		41

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NB		NEW BUSINESS

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.